Severnaya Verf Shipyard Obtained Government Guarantees

18.05.2012 Severnaya Verf shipyard received government guarantee on credits obtained from JSC Sberbank of Russia to the maximum amount of RUR 9,534.600 bln. The then Prime Minister Vladimir Putin on Apr 26 endorsed the Resolution No. 660-R giving governmental guarantees to military-oriented companies in order to implement state defense order.

According to the resolution, Russian Ministry of Finance was tasked to tie agreements on government guarantees with legal entities listed in the document's appendix in accordance with the rules approved by governmental Resolution No. 1215 dated Dec 31, 2010.

Among 25 defense companies and organizations received government guarantees, JSC Severnaya Verf shipyard takes a special place. As for now, the yard is the only governmentally-authorized manufacturer of Project 20380/20385 corvettes and Project 22350 frigates, which are to be main Russian Navy's large-size combatants for the next decades.

In accordance with signed contracts (No. 253/05/2/K/0546-06 dated March 27, 2006 and No. 704/27/2/ONK/KN/0494-10 dated March 25, 2010), Severnaya Verf is to build and deliver six Project 22350 frigates and six Project 20380/20385 corvettes by 2020.

Severnaya Verf performs all works in line with schedules approved by the major customer, Russian Defense Ministry. Today, Severnaya Verf is the only company resumed batch production of 1-st and 2-nd rank surface warships.

The shipyard prepares for launching of Project 20380 corvette Stoiky scheduled on May 30. The ship entered the yard's launching dock one week ago. Through the next half a year, the corvette will be outfitted afloat. As scheduled, in Jan 2013 Stoiky will pass dockside trials, and then shipyard's sea and state acceptance trials. The corvette will be delivered to Russian Navy in Nov 2013. Her predecessor – corvette Boiky – is passing dockside trials. The crew has already settled in the ship. In June, the corvette will take the sea for shipyard's sea and state acceptance trials. In accordance with construction schedule, the ensign-hoisting and handover ceremony will be held in Nov 2012.

Lead Project 22350 frigate Admiral Gorshkov started first phase of dockside trials. Delivery deadline stipulated in the contract is Nov 2013. Russian Navy will receive the first serial frigate Admiral Kasatonov in Nov 2014. Laid down on Feb 1, 2012, the third frigate – Admiral Golovko – is under construction as well.

In Nov 2013, Severnaya Verf will deliver another vessel to Russian Navy, Project 18280 special purpose ship Yury Ivanov. She is planned to be launched in Aug 2012.